Brown Brothers Harriman (BBH) Capital Partners Invests in The Granite Group

As a private partnership, theyre able to take a thoughtful, long-term approach to managing their business and relationships. Their structure promotes client alignment, personal accountability, and agility – so the best ideas rise quickly to the top.

With fewer constituencies and no outside shareholders to serve, they have fewer distractions. They can be fully aligned with your best interests, and generous with their expertise and guidance to help you achieve your business objectives. To expands their partnership, BBH Capital therefore Partners completes a Growth Capital Investment in The Granite Group

The BBH Capital Partners (BBHCP) announcement was made on 18th November, 2021 that it has completed a growth capital investment in The Granite Group (Granite or the Company), in partnership with existing management and the Condron family. Founded in 1971 and based in Concord, NH, Granite distributes plumbing, heating, cooling, water, and propane supplies to residential and commercial contractors across New England through 47 wholesale branches and its e-commerce operation. Granite plays a critical role in the market, providing a value-added, in-person experience for the professional segment via a strategically located, customer-centric, and densely distributed branch network that compares favorably to national competitors in the New England market.

While briefing about the investment, the Managing Director of BBH and also the Co- Manager of BBHCP. Brad Langer said

“The investment in Granite is a charming opportunity for BBHCP to partner with another well-managed family-owned and operated business that was requesting a partner to help execute on the next phase of its growth plans,”. He further said “they were attracted to Granite due to its strategic geographic footprint, established branch network, and well known for best-in-class customer service, technical expertise, and the strength of the management team, led by CEO Bill Condron.”

Also Senior Vice President of BBH and Principal of BBHCPMatthew Salsbury, added that “Bill and his management team have a long track record of growth and have established Granite as a leader in the New England market. BBHCP is excited to support Granite though its next phase of expansion.”

Speaking on the matter, Granites President and CEO, Bill Condron. Added that “BBH is well known to the Condron family, serving as the initial banking partner of their founder BBHCP shares their goal of continuing to grow The Granite Group to better serve their customers and create exciting opportunities for their employees.” G2 Capital Advisors served as the exclusive sell-side advisor to The Granite Group on the transaction.

The Granite Group (Granite) distributes plumbing, heating, cooling, water and propane supplies to contractors and fuel dealers across New England through over 47 wholesale branches and their Online Store. The company also operates 15 retail showrooms under The Ultimate Bath Store name, offering an expertly-trained staff to assist with product selection and an extensive array of decorative plumbing fixtures and accessories.